Top Cryptocurrencies to Consider Acquiring on July 4 – Bitcoin, Ethereum, Mantra

As cryptocurrency markets experience a significant decline on Thursday, with prominent coins such as Bitcoin (BTC) and Ethereum (ETH) reaching their lowest points in several months, traders are evaluating which cryptocurrencies may be the most advantageous to purchase during this market downturn.

Bitcoin fell to the $56,000 range on Thursday, testing its lows from May. This recent decline has caused it to drop below its 200-day moving average (200DMA), indicating a bearish sentiment for the short-term outlook.

In contrast, Ethereum reached its lowest price since the SEC’s mid-May decision regarding Ethereum ETFs, falling below $3,100.

Bitcoin spot market selling remains high due to ongoing pressures from struggling miners, additional movements from the German government’s wallet, and concerns surrounding the upcoming Mt Gox repayments.

BREAKING NEWS: The German government continues to liquidate its #Bitcoin holdings. An additional 1300 BTC was transferred to exchanges in the last 20 minutes. More sales are likely to follow. pic.twitter.com/lJ62RHDDpZ

— sunnydecree (@sunnydecree) July 4, 2024

Ethereum, on the other hand, has not benefited from delays in the launch of US spot ETFs.

UPDATE: We’ve received another amended S-1 from @BitwiseInvest for their #Ethereum ETF. Expect more updates from other issuers throughout the week. We anticipate these could potentially list later next week or during the week of the 15th. pic.twitter.com/xqVlt9lSGy

— James Seyffart (@JSeyff) July 3, 2024

Other significant altcoins, including Solana (SOL), XRP (XRP), and Toncoin (TON), experienced declines of approximately 7% within 24 hours, according to CoinMarketCap.

Buy the Dip?

As the crypto markets decline, investors are understandably considering whether to buy the dip.

If one assumes that the cryptocurrency market is currently in a prolonged bull phase, the answer would be a clear affirmative.

However, the aforementioned factors impacting Bitcoin may persist for some time.

Thus, even though July has historically been a favorable month for BTC, a swift recovery may not be on the horizon.

Indeed, having lost its 200DMA, BTC’s next target could likely be a retest of the $53,000 support level.

Consequently, investors should view the current market dip as an opportunity to accumulate or dollar-cost average (DCA) into their preferred cryptocurrencies.

Bitcoin remains one of the top cryptocurrencies to consider purchasing at this time. Later this year, factors related to the US election and Federal Reserve rate cuts are expected to provide significant support.

Simultaneously, selling pressure from miners who have struggled to adapt to the halving may begin to ease.

Additionally, Bitcoin ETFs facilitate easier access for both institutions and retail investors.

The conditions are certainly in place for a potential rally above $100,000 in late 2024 or 2025.

If this dip makes you anxious, you need to study #bitcoin more.

— Bitcoin for Freedom (@BTC_for_Freedom) July 4, 2024

Ethereum is also expected to perform strongly for similar reasons. The approval of Ethereum ETFs and the accelerated growth of the Ethereum ecosystem could further enhance its prospects.

Thus, Ethereum is another strong candidate for the best cryptocurrency to buy now.

Is MANTRA (OM) the Best Crypto to Buy Now?

The real-world tokenization protocol Mantra (MANTRA) is one of the few cryptocurrencies showing positive movement on Thursday.

According to CoinMarketCap, MANTRA has risen by 9% in the past 24 hours, trading around $0.79.

This increase is supported by news of Mantra’s partnership with a major real estate firm in Dubai.

Mantra plans to bring over $500 million in real estate assets on-chain, as noted in an X post.

UAE Real Estate Giant #MAG Partners with #MANTRA to Tokenize $500 Million in Real Estate Assets

MANTRA and MAG will work together to democratize access to luxury UAE real estate through secure, yield-bearing vault products backed by MANTRA’s L1 technology.

This collaboration… pic.twitter.com/eVrwOUUa9H

— MANTRA – Tokenizing RWAs (@MANTRA_Chain) July 3, 2024

OM has now increased over 30 times from its levels last December as it establishes itself as a leader in real-world assets (RWA).

With a fully diluted market cap of approximately $700 million, it still has considerable growth potential ahead.

If it maintains its position as a leader in RWAs and the assets on-chain continue to expand, RWA could easily see a tenfold increase from its current levels.

It could certainly be one of the top cryptocurrencies to consider purchasing now.

Crypto Alternative to Consider – Crypto Presales

The aforementioned coins all possess the potential to increase tenfold during this bull market.

However, for investors seeking larger returns, an alternative investment strategy to explore is presale investing.

New web3 projects frequently offer their native tokens at significant discounts to early investors to support development.

Presale investing carries risks, as does all cryptocurrency investment. However, if investors can accurately identify high-potential projects, they stand to achieve substantial gains.

Analysts at Cryptonews.com closely monitor the presale market. Here are some of their top recommendations at present.

14 Best Crypto Presales to Invest In Now

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